- (a) The purpose of this part is to establish requirements and standards for organizations and Arkansas cities, towns, municipalities, and counties to obtain and maintain required permits and offer charitable annuities to Arkansas residents, nonresidents, or other legal entities to benefit the bona fide public charitable, educational, or philanthropic agencies or programs.
- (b) This part will also clarify procedures and standards for duly organized domestic or foreign nonstock corporations or associations conducted without profit to obtain and maintain required permits and offer charitable annuities to Arkansas residents, nonresidents, or other legal entities to benefit the bona fide charitable, religious, educational, and philanthropic activities’ needs.